Revising call reports and Credit Union Profile can both enhance the NCUA’s supervisory ability and reduce regulatory burden on credit unions, CUNA wrote Friday. The NCUA requested input on ways to enhance the quality of collected information.
While CUNA appreciates the spirit of the NCUA’s annual review of its regulations, it should not be used as a reason to delay responses to a known problem with a regulation, CUNA wrote to the agency this week.
The NCUA’s website, NCUA.gov, will be down for maintenance starting 10 p.m. (ET) Friday and continuing through midnight (ET) Sunday. The entire site will be down, including credit union resources and consumer sections of the site.
CUNA suggested several immediate improvements in the NCUA’s examination procedures in a letter sent to the agency this week. The letter was sent in response to the NCUA’s request for input on through its Exam Flexibility Initiative.
A joint incentive-based compensation rule from federal financial regulators is overly burdensome and not necessary for credit unions, CUNA told the NCUA in its comment letter on the proposal, which is required under the Dodd-Frank Act.
The NCUA board voted Thursday to adopt the agency’s strategic plan for 2017-21 that includes updating the agency’s goals for examinations. While this change does not immediately credit unions' exam cycle, it sets the stage for later improvements.
NCUA expenditures are projected to decline by $2.7 million for 2016, per a mid-year budget review. Staff recommended that there be no reduction in the 2017 operating fee, due to several open obligations requiring cash on hand.
President Barack Obama announced Wednesday the nomination of John Herrera to the open seat on the NCUA board. CUNA President/CEO Jim Nussle congratulated Herrera on the nomination to the agency's three-person board.